The Moment of Bottom Confirmation... Will 7,000 Recover This Week? | Park Byung-chang, MP Partners CEO

Summary

Park Byung-chang, CEO of MP Partners, argues that the extreme Korean market sell-off may be ending, with a KOSPI bottom potentially confirmed this week and a recovery toward 7,000 in sight. He highlights semiconductor stocks as attractive due to physical supply constraints preventing overcapacity, and sees Apple benefiting from a rotation away from high-capex AI names. He also points to a tactical opportunity in Samsung Electronics ahead of its full earnings release.

• KOSPI fell 28% from its June peak but oversold conditions and clearing supply-demand overhangs suggest a bottom may be forming.
• The CXMT IPO subscription money is expected to rotate back into existing semiconductor stocks like Samsung and SK Hynix.
• Physical constraints—power, land, and DRAM shortages—limit AI infra buildout, keeping memory supply tight and chip prices supported.
• Apple hits new all-time highs as investors favor its low AI capex; a new leasing business offers additional growth catalyst.
• Samsung Electronics historically tends to rise after its full quarterly earnings report rather than the preliminary release.
• FOMC this week is expected to hold rates, and the next meeting in September provides a long window for other market drivers.
• Iran-US talks on Strait of Hormuz management could ease oil supply fears, offering additional relief to markets.